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North America Concrete Floor Coatings Market To Witness Growth Owing To Rising Demand from Residential and Commercial Construction Sectors Till 2020 | Million Insights
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The North America Concrete Floor Coatings Market demand was held at 214.3 kilo tons in 2013. Concrete floor coatings provide excellent resistance against high temperature, wear and tear to indoor & outdoor areas in commercial and residential buildings. Recovery of the construction industry in the U.S. is likely to drive the concrete floor coatings market over the years ahead. Positive outlook towards construction industry in Mexico, as a consequence of rising expenditure by government to improve infrastructure is likely to have a positive impact on the market.
The Mexican government allocated USD 297 Billion to develop domestic energy sector, which includes 124 projects to establish natural gas pipelines and power plants under the initiatives of “National Infrastructure Program 2014-2018”. However, the increasing demand for soft coverings and resilient floorings in the region is likely to act as a restrain for the market.A stringent regulatory framework has been implemented regarding theVOCs emitted by the product, that tend to have harmful effects on human health. The government of Canada and the U.S. EPA passed the standards for VOC emission for AIM regulations and Architectural Coatings respectively, which are likely to hamperthe industry growth. However, regulatory inclination towards the promotion and growth of petroleum and chemical sectors in Mexico, is expected to offernew opportunities in during the projected period.
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Product Insights
Epoxy, polyaspartic, and polyurethanes are the major product categories. Epoxy coatings segmentaccounted for the largest industry share and is likely to remain dominant in the future, owing to its low cost. These products have excellent properties such as resistance to chemical and heat, electric insulation and good adhesion. The above-mentioned attributesalong with relatively low cost are likely to boost the consumption of epoxy coatings during the forecast period. However, ineffectiveness of these productson exposure to UV is expected to adversely affect the industry growth. Polyaspartic coatings are projected to offer favorable growth prospects, owing to theirproperties such as better UV protection and goodresistance to wear & tear and abrasion. Other product categories includepolyuria and acrylic coatings. Development of biobasedpolyurethaneis likely to opennew avenuesin the industry during the forecast periodfor polyurethane coatings in the upcoming six years.
Application Insights
Indoor applications accounted for more than 60% share of the total industry in 2013. Significant infrastructure activities coupled with the revival of the construction sectorinthe U.S. are likely to boost product consumptionduring the forecast period. Outdoor segment islikely to be the fastest in theNorth America region,over the years ahead.
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Country Insights
U.S. held the largest demand for concrete floor coatings in2013. This trend is likely to continue during the forecast period.Significantinfrastructure activities pertaining to the residential and commercial construction sectorsinthe U.S., is likely to increase the product consumption over the years ahead. Growth of core industrial sectors such as oil & gas, food and beverage, pharmaceutical, FMCG and automotive is likely to provide scope for noteworthy usage of the product.
Mexico is expected to be the fastest growing country in the region,owing to the increase in theconsumer disposable income, population expansionand urban development. Furthermore, favorable policies of the governmenttowards infrastructure developmentin the countryand implementation of National Infrastructural Plan, is likely to encourage the usage of the product during the forecast period. Canada is likely to witness steady growth, due to increasing production output from unconventional sources including shale gas, along with the implementation of New Building Canada Plan from 2007 to 2017.
Competitive Insights
BASF SE, Sika AG, General Polymers and Stonhardare the major industry players in North America. Other players in the region include DuPont, Bayer AG, Tennant Company, Pratt and Lambert Paints and PPG Industries, Inc. Tennant Company launched Eco-ITS bio-based urethane coatings comprising low VOC content and reduced odor in order toprovidesustainable products in the region.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
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